Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,158,141 members, 7,835,823 topics. Date: Tuesday, 21 May 2024 at 03:31 PM |
Nairaland Forum / Nairaland / General / Business / CBN announces unification of FX windows, stops Naira4Dollar scheme (78159 Views)
CBN Announces Price Verification System Portal (PVS) / CBN Announces Sale Of Polaris Bank, Unveils New Owner / CBN Announces Plan To Launch E-Naira Wallet, Reveals CBDC Guidelines (2) (3) (4)
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) ... (14) (Reply) (Go Down)
CBN announces unification of FX windows, stops Naira4Dollar scheme by References1: 8:57pm On Jun 14, 2023 |
OPERATIONAL CHANGES TO THE FOREIGN EXCHANGE MARKET The Central Bank of Nigeria (CBN) wishes to inform all authorized dealers and the general public of the following immediate changes to operations in the Nigerian Foreign Exchange (FX) Market: • Abolishment of segmentation_ All segments are now collapsed into the Investors and Exporters (I&E) window Applications for medicals. school fees. BTA/PTA, and SMEs would continue to be processed through deposit money banks • Re-introduction of the "Willing Buyer, Willing Seller model at the I&E Window. Operations in this window shall be guided by the extant circular on the establishment of the window, dated 21 April 2017 and referenced FMD/DIR/CIR/GEN/08/007. All eligible transactions are permitted to access foreign exchange at this window • The operational rate for all government-related transactions shall be the weighted average rate of the preceding day's executed transactions at the I&E window, calculated to two (2) decimal places • Proscription of trading limits on oversold FX positions with permission to hedge short positions with OTC futures. Limits on overbought positions shall be zero. • Re-introduction of order-based two-way quotes, with bid-ask spread of Ni. All transactions shall be cleared by a Central Counter Party (CCP). • Reintroduction of Order Book to ensure transparency of orders and seamless execution of trades. • The operational hours of trades shall be from 9am to 4pm, Nigeria time • Cessation of RT200 Rebate Scheme and the Naira4Dollar Remittance Scheme, with effect from 30 June 2023. Further guidance on these matters shall be communicated in due course All market participants and the general public are kindly enjoined to abide by these rules. Ange a re-Ejernbi, PhD Director, Financial Markets 14 June 2023 83 Likes 13 Shares
|
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by Acekidc4(m): 8:58pm On Jun 14, 2023 |
Reading.... 9 Likes 2 Shares |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by kaywhy09(m): 9:08pm On Jun 14, 2023 |
Detailed 6 Likes |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by Dialpad: 9:13pm On Jun 14, 2023 |
This is a good move, I know many are waiting to hear news of when we can start spending dollars on our naira cards. How can one have millions in a naira account but can't spend when you travel out, some lunatic tells me I can only spend $100 monthly. If you are waiting to spend dollars on your naira card, click the like button.... lol 914 Likes 32 Shares |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by neutralmind: 9:28pm On Jun 14, 2023 |
Okay 2 Likes |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by accordadoga27(f): 9:40pm On Jun 14, 2023 |
Welcome to the new Nigeria - The giant of Africa. We thank everyone who voted in BAT. As for the ones who fell for the propaganda, una eyes don clear now just in two weeks. They told us we would see shege under Ashiwaju’s administration (the best governor in the history of Nigeria) but the land would be filled with honey under one man who failed woefully as a governor in small Anambra and some people believed. Tinubu is sick, he is push and start, how many times has he collapsed since he assumed office? We thank everyone who believed in Ashiwaju. Together we shall sing a new song. As for the ones who don’t want Ashiwaju to succeed or progress, ode to n so eledumare, ori e lo ma ku si Ashiwaju is not their father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s mate. 433 Likes 44 Shares
|
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by vastolord4(m): 9:41pm On Jun 14, 2023 |
Please who can interpret in plain english 168 Likes 7 Shares |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by oluwaseyi0: 9:41pm On Jun 14, 2023 |
how is this Mr Tinubu getting away with all this, so many president can't attempt this 270 Likes 13 Shares |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by NaijaCover(m): 9:41pm On Jun 14, 2023 |
Following The Update 7 Likes 2 Shares |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by OloYeOfEgbE: 9:41pm On Jun 14, 2023 |
Lol... I no fit read the long speesh and I don't even wanna understand.. somebody please tell me its gonna affect those guys from Niger Republic doing BDC in Asaba. It is unacceptable olorun 31 Likes 2 Shares
|
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by grandstar(m): 9:41pm On Jun 14, 2023 |
Fantastic! This has been long awaited! Long overdue! I just hope the government can slash company tax to 12.5%. This could achieve the 10% yearly economic growth rate it seeks. Even if it's 15% good, inclusive of the 2% education tax. 92 Likes 10 Shares |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by MorolayoVictor(m): 9:41pm On Jun 14, 2023 |
Ah! 2 Likes 1 Share |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by jeff1607(m): 9:42pm On Jun 14, 2023 |
? 1 Like 1 Share |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by slimthugchimee2(m): 9:42pm On Jun 14, 2023 |
Omoh the grammar here strong pass me People wey no understand shishi gather here Abeg person help me explain 322 Likes 11 Shares |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by Inkling(f): 9:42pm On Jun 14, 2023 |
Ok |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by DrBasit(m): 9:42pm On Jun 14, 2023 |
President Tinubu’s Effect 🇳🇬🇳🇬🇳🇬 23 Likes 3 Shares |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by Metrofox(m): 9:42pm On Jun 14, 2023 |
una wan comot food from aboki mouth 63 Likes 3 Shares |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by HappyPagan: 9:42pm On Jun 14, 2023 |
All these fuel price increase, dollar increase, igbo and loud price no change. To God be the glory. 64 Likes 2 Shares |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by DBossNG(m): 9:42pm On Jun 14, 2023 |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by TemplarLandry: 9:42pm On Jun 14, 2023 |
Proactive policies like this are welcomed. Let's make Nigeria great again. 74 Likes 6 Shares |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by wabashe: 9:42pm On Jun 14, 2023 |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by jhydebaba(m): 9:42pm On Jun 14, 2023 |
Anything to make the naira strong is welcomed. 94 Likes 8 Shares |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by McStoic(m): 9:42pm On Jun 14, 2023 |
Okay... Changes left and right. I hope they're not playing to the gallery vis a vis initial gragra? 25 Likes 2 Shares |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by NamelessOGBENI(m): 9:42pm On Jun 14, 2023 |
Otoge! Local man can't even wrap his head around anything up there, to make the whole drama worst, wetin be this abeg. Ange a re-Ejernbi, I even used Google and the weyrey no even get answer to am. Pressure ti wa bayi! 70 Likes 7 Shares |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by omoyankee3(m): 9:42pm On Jun 14, 2023 |
Good development 5 Likes 2 Shares |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by GWMI(m): 9:43pm On Jun 14, 2023 |
J |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by Boyooosa(m): 9:43pm On Jun 14, 2023 |
Cool |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by Seefinish: 9:43pm On Jun 14, 2023 |
Joke apart I don't understand what I have just read. If I tell you I understood what I have just read I am lying to myself 111 Likes 4 Shares |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by AirBay: 9:43pm On Jun 14, 2023 |
Can someone explain? 20 Likes 1 Share |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by lorbah001(m): 9:43pm On Jun 14, 2023 |
Seriously I am getting frightened by this pace...ah, BAT is outrunning even the supposed healthy clowns. A better Nigeria is here and anyone wishing against her wellness will never succeed. 164 Likes 22 Shares |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by tragergeorge(m): 9:43pm On Jun 14, 2023 |
Me no understand anything there bob 28 Likes |
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) ... (14) (Reply)
Mba Forex Is Under Attack / 5 Profitable Things That Will Always Sell In Nigeria / Kuda Bank Called EFCC On My Friend Over N800k - Bryson Adah Cole
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 21 |